One of the clearest impacts of the pandemic has been to accelerate consumers’ long-running migration to mobile and online channels, for financial services among others. For banks and insurers, the results include greater opportunities to serve more customers in new and more efficient ways. Our four customer personas Pragmatists – 27 percent of UK respondents:…
This series of blogs look at the future of banking in Growth Markets in a post-COVID-19 world. Although Asia-Pacific banks have outperformed global peers in recent years, they’re dealing today with challenges including an uncertain economy, under-pressure balance sheets, competition from digital attackers, declining cost-income ratios and a low interest-rate environment. These structural shifts have…
In this series we’ve looked at a range of important subjects for banks looking to grow and gain competitive advantage in 2021. All are connected to Accenture’s latest Global Banking Consumer Study. But in every post we have encountered, in one way or another, the same challenges and questions. If a post-pandemic world is also…
The headlines are crowded with stories about bank mergers and acquisitions among middle market banks. This doesn’t surprise me. While M&A slowed down during the height of the pandemic, it’s ramping up fast now as a mechanism to spur growth and recovery. Buying is one thing, integrating is another What I find fascinating about M&A…
It’s hard to overstate the importance of trust in banking—which makes the findings of our latest Global Banking Consumer Study concerning for banks. The study, which interviewed 47,000 consumers around the world, revealed that the COVID-19 pandemic has accelerated what has been a longer-term decline in trust in banks. We found that 29 percent of…
UK banks have been striving for years to reduce their cost base. Yet despite these efforts, downward pressure on revenue is continuing to squeeze profitability. The effect is to put banks’ cost-to-income ratio in the spotlight. Even before the pandemic, only a handful of banks had a satisfactory and sustainable C:I ratio. With most still…
